Five Condo Financing Problems You Need to Know
Condominiums can be a great investment. They allow you to enjoy a luxury lifestyle and not worry so much about maintenance as compared to a single-family home. However, you must be aware of the common condo financing problems you could face before looking for a lender. This comprehensive guide will discuss the common condo financing […]
How To Get A Mortgage For A Short-Term Rental Property
AirBnB and other short-term rental (STR) investing has exploded in popularity over the past decade. And as travel recovers from the pandemic, analysts expect growth to resume: Between 2019 and 2024, the short-term vacation rental industry is expected to grow by more than $63 billion, at a compound annual growth rate of 7%. Short-term rental […]
Litigation and budget hurdles: does your condo satisfy Fannie Mae guidelines?
You have your heart set on purchasing a condo unit in sunny Florida. You also want a conventional mortgage for that unit. However, if the condominium project does not satisfy Fannie Mae guidelines, you will not qualify for a conventional loan. Two common reasons why a condo project fails to satisfy Fannie Mae guidelines are (1) […]
Bank Turndowns (Volume 9): Are you looking to purchase or invest in a Florida condominium, including a non-warrantable condominium?
If you are looking for financing to purchase or invest in a Florida condominium, be prepared. Condo financing presents unique challenges, particularly in Florida: Compared to single-family homes, the loan approval process is more complex for condos. Essentially, the lender not only has to approve your own creditworthiness as the borrower, but also must ensure […]
How to finance a non-warrantable condo in Florida
Are you looking to buy a new construction unit in a non-warrantable condo but are unable to get financing? Buying a new construction condo is a great investment. As in most cases, you’ll be buying at ground floor pricing. All your amenities are brand new and usually buildings allow you to put your own finishing […]